China Unicom H1 Net Profit Surges 31.9%

China Unicom (Hong Kong) Ltd CHU reported a 31.9% rise in its first-half net profit. China Unicom's net profit for the period climbed to 3.43 billion yuan ($541.86 million), versus a restated CNY2.62 billion, in the year-ago period. However, analysts were expecting a net profit of CNY2.62 billion. Its revenue surged 20% to CNY121.69 billion, versus a restated CNY101.42 billion, in the year-ago period. However, analysts were expecting revenue of CNY123.66 billion. China Unicom shares jumped 6.54% to $17.10 in pre-market trading.